Mozambique’s payment system provider cuts off service
BizFirst says it has not been paid by the banks or the country’s central bank for use of its software
A payment system failure in Mozambique was the result of a software provider cutting off the service because it had not been paid, according to a representative of the firm.
Speaking to Central Banking, a representative from BizFirst – payment system provider for Mozambique – says there was never a fault and the issue was a result of the company cutting off access.
“The problem was that neither the Bank of Mozambique nor the country’s interbank group, of which 51% is owned by the central bank
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on FMI
Bank of Lithuania steps up AML/CFT measures for crypto
Bank to co-operate with financial crime investigators to oversee ballooning digital assets sector
Banxico ops chief confident on swaps reference rate transition
Major exchanges to introduce TIIE de fondeo on November 22, with derivatives liquidity expected to grow
Supervise crypto first, say BdF and French markets authority
French supervisors call for Europe-wide regulation of digital asset class
PBoC and HKMA to link up instant payment systems
Trial in 2025 will allow residents to make cross-border small-value transactions
Central banks must navigate impact of tokenisation – BIS
Paper weighs in on how policy-makers should react to innovations in financial market infrastructure
MNB calls on Revolut to open bank subsidiary, not branch
Central bank says firm’s Hungarian customers deserve full deposit protection offered by banking laws
More CCPs would not avert US Treasuries crisis – BIS study
However, economists say central clearing could still improve market functioning
AI risks ‘strikingly similar’ to financial ones – DNB official
Central banks entering new phase of risk management, says board member responsible for supervision